UBS Group Upgrades Delek Logistics Partners (NYSE:DKL) to “Hold”

Delek Logistics Partners (NYSE:DKL) was upgraded by analysts at UBS Group to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Mizuho raised their price objective on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Truist Financial began coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 target price for the company. Finally, Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Delek Logistics Partners has an average rating of “Hold” and an average target price of $55.40.

Delek Logistics Partners Trading Down 2.2%

Shares of DKL opened at $54.90 on Thursday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.65 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96. Delek Logistics Partners has a fifty-two week low of $41.72 and a fifty-two week high of $56.83. The firm has a 50 day moving average price of $51.88 and a 200-day moving average price of $51.19.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The business had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $239.87 million. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.86 earnings per share for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Delek Logistics Partners during the 2nd quarter valued at $50,000. Jones Financial Companies Lllp increased its position in shares of Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 910 shares during the period. State of Wyoming bought a new position in shares of Delek Logistics Partners during the first quarter valued at about $67,000. Osaic Holdings Inc. raised its stake in shares of Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in shares of Delek Logistics Partners during the second quarter worth about $206,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.